China is introducing restrictions on property-related lending, as the central government takes the lead in efforts to head off a housing bubble.
Property developers are facing curbs on their ability to raise finance by issuing debt or equity, after two government regulators were instructed to step in, it has emerged.
The China Securities Regulatory Commission and the National Development and Reform Commission — China’s economic planner — have been instructed by high-level officials to restrict developers’ issuances in the Hong Kong stock market, in the Hong Kong bond market and in the Chinese interbank bond market, according to local news magazine Caixin.